DUSHANBE, Tajikistan, November 27. The Minister of Finance of Tajikistan, Faiziddin Kahhorzoda, and the Executive Director of the Eurasian Fund for Stabilization and Development (EFSD), Andrey Shirokov, have signed an agreement to allocate a $32 million investment credit to Tajikistan from the EFSD funds, Trend reports.
The funding will be used to fund the Irrigation System Renewal project, which will increase irrigation capacity in Tajikistan. This effort will be carried out in the Sughd region's Zafarobod district.
The overall project cost is $32 million, which will be fully funded by Eurasian Fund preferential credits. Its implementation will begin in 2024 and end in 2029.
The deal was signed on November 21-22, during Tajikistan's President Emomali Rahmon's official visit to Russia.
The EDB and its subsidiaries completed 13 investment projects in Tajikistan worth $266.4 million as of November 17. Seven Eurasian Fund for Stability and Development grant and concessional projects totaling $215 million, as well as six bank-led initiatives totaling $51.4 million, have been implemented throughout various sectors of Tajikistan's economy.
